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Where will Bitcoin rebound after TACO?
The S&P continued to rebound yesterday, fully filling the gap caused by this "TACO" trade. The probability of continuing to rise and reaching new highs remains relatively high.
Bitcoin's performance has been relatively weaker, mostly fluctuating below 90,000, without breaking through the previous day's rebound high.
However, there's no need to be overly pessimistic. The S&P experienced a three-wave upward structure between 2025.12.17 and 2026.1.13, and during the S&P Wave A, Bitcoin didn't rebound much, but during the subsequent Wave C, it experienced two relatively rapid rebounds.
This situation may also occur in the future. Therefore, Bitcoin still has the potential to rebound to the upper boundary of the channel. Even if it cannot rebound to the upper boundary, it is likely to rebound near the middle line of the channel.